When Siavosh Ardalan bought a three-bedroom home in Woodland Hills late last year, he thought that the prospects for real estate investing were bright. Prices had been appreciating at double-digit rates for the past two years, and homes in the San Fernando Valley were being snapped up almost as quickly as they were listed. After pouring thousands of dollars into remodeling -- putting in new windows, french doors and a marble fireplace -- Ardalan listed the house for sale in November. But by then, Southern California's hot real estate market had cooled. And now, six months after buying, he's just hoping to break even. (excerpt)